Mackenzie Financial Corp Raises Position in Ally Financial Inc. (NYSE:ALLY)

Mackenzie Financial Corp grew its position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 104.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 77,137 shares of the financial services provider's stock after acquiring an additional 39,493 shares during the quarter. Mackenzie Financial Corp's holdings in Ally Financial were worth $2,778,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Securities Inc. raised its stake in Ally Financial by 89.4% during the fourth quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 496 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Ally Financial in the 4th quarter worth about $43,000. Harbour Investments Inc. raised its position in shares of Ally Financial by 38.5% during the 4th quarter. Harbour Investments Inc. now owns 2,142 shares of the financial services provider's stock valued at $77,000 after buying an additional 595 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Ally Financial in the 4th quarter valued at about $78,000. Finally, Van ECK Associates Corp purchased a new position in Ally Financial in the fourth quarter worth about $85,000. 88.76% of the stock is currently owned by institutional investors.

Ally Financial Stock Up 1.3%

Shares of Ally Financial stock traded up $0.47 during trading on Tuesday, hitting $35.71. 5,536,303 shares of the stock traded hands, compared to its average volume of 3,711,608. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The stock's fifty day simple moving average is $33.71 and its 200 day simple moving average is $35.84. The firm has a market cap of $10.97 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 0.32 and a beta of 1.14. Ally Financial Inc. has a 52-week low of $29.52 and a 52-week high of $45.46.

Ally Financial (NYSE:ALLY - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.15. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same period in the prior year, the business earned $0.45 EPS. On average, equities analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Thursday, May 1st. Ally Financial's payout ratio is 88.24%.

Analyst Ratings Changes

Several research firms have recently issued reports on ALLY. Truist Financial lowered their price objective on Ally Financial from $45.00 to $41.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Compass Point raised shares of Ally Financial from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $37.00 to $41.00 in a research note on Monday, April 7th. Wells Fargo & Company cut their price objective on shares of Ally Financial from $34.00 to $32.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. lowered their target price on shares of Ally Financial from $43.00 to $36.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Morgan Stanley dropped their price target on shares of Ally Financial from $45.00 to $39.00 and set an "outperform" rating for the company in a research note on Monday, April 7th. For consumer lenders, the Trump Administration’s hardline approach to tariffs is “difficult to ignore” and there’s clearly more downside to the group if tariffs remain near current levels. If tariffs remain in place, risks to growth would skew meaningfully to the downside and risks to inflation to the upside, adds the analyst, who is downgrading the firm’s Consumer Finance industry view to Cautious from Attractive. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $41.69.

Insider Activity at Ally Financial

In other Ally Financial news, insider Stephanie N. Richard sold 8,000 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $32.14, for a total transaction of $257,120.00. Following the completion of the sale, the insider now directly owns 90,387 shares of the company's stock, valued at approximately $2,905,038.18. This represents a 8.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Russell E. Hutchinson purchased 8,200 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was purchased at an average price of $30.81 per share, for a total transaction of $252,642.00. Following the completion of the acquisition, the chief financial officer now directly owns 236,421 shares in the company, valued at approximately $7,284,131.01. This represents a 3.59% increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by corporate insiders.

Ally Financial Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.